Equinix goes Iberian with acquisition of Itconic
Mon 11 Sep 2017
Global interconnection and data centre firm Equinix has announced the acquisition of Itconic, a data centre, connectivity and cloud infrastructure solutions provider based in Spain and Portugal.
Alongside the purchase of Itconic, carried out through asset management firm The Carlyle Group, Equinix has also gained CloudMas, an Itconic subsidiary focussed on enterprise adoption and cloud services.
Equinix is carrying out an all-cash transaction worth $259 million (approx. £196 million) for the acquisition, which is expected to close in the fourth quarter of this year, subject to standard approval measures.
The acquisition pushes forward the California data centre giant’s position in Europe, and sees it entering two new countries. In total, the company will gain five new data centres; two in Madrid, one in Barcelona, one in Seville, and one in Lisbon, totalling an additional 332,000 square feet for Equinix’s International Business Exchange (IBX) portfolio.
As well as a significant gain in data centre square feet, the acquisition of subsidiary CloudMas means Equinix will also benefit from the help of ‘a highly experienced team of technology professionals with deep expertise in hybrid cloud architectures and cloud adoption and migration strategies.’
Equinix EMEA President, Eric Schwartz, said: ‘The large-scale deployments of new direct submarine cables between Europe, Latin America and Africa will connect through Iberia, making it a globally relevant key interconnection hub and a geographically important region for Equinix.
‘With the acquisition of Itconic, we will continue to deliver the level of excellence and Interconnection that the industry expects and which our customers demand.’
Itconic CEO Faustino Jiménez noted the new opportunities the deal provides for Spanish and Portuguese customers: ‘With our incorporation into Equinix’s global platform, companies operating in the Iberian peninsula will finally be able to access the largest network of interconnected data centers in the world.’
Equinix notes the growing importance of interconnection, calling it an ‘essential building block of the digital economy.’ It argues that by adding capacity in markets such as Spain and Portugal, it helps companies extend their IT operations. The acquisition means Equinix will be serving household names such as L’Oreal, Vueling, BNP Paribas and Real Madrid.
Equinix recently scored another point in the interconnection game by becoming the data centre host for a new Australia to Asia submarine cable system.